Lupin Limited, leading pharmaceutical company in India, announced on Wednesday, July 30 that it has acquired a German sales and marketing generics company called Hormosan GmbH. A statement issued by the Euro 6.8 million worth German company stated that it specializes in the sale of those pharma products that are used to treat problems linked with the central nervous system (CNS).

‘Hormosan develops, licenses and markets a range of generic drugs in Germany and complements Lupin’s product portfolio for the CNS and cardiovascular therapeutic segments’, the statement further read. Hormosan GmbH has a good reputation in the generics market of Germany. Desh Bandhu Gupta, the chairman of Lupin Limited, said, that buying out Hormosan is in tandem with their plans to fortify their hold in the key international pharma markets through mergers and acquisitions.

‘This move establishes a bridgehead in Germany and is our first acquisition in the European market,’ the chairman of Lupin Limited said. Lupin reported revenues of Rs.27.73 billion ($694 million) and net profit of Rs.4.08 billion ($102 million) for the year ended March 31, 2008.